Assembly Actions -
Senate Actions - UPPERCASE
|Apr 17, 2020||
recommit, enacting clause stricken
|Apr 13, 2020||
referred to insurance
Senate Bill S8178
2019-2020 Legislative Session
Archive: Last Bill Status - Stricken
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2019-S8178 (ACTIVE) - Details
- Law Section:
- Versions Introduced in 2019-2020 Legislative Session:
2019-S8178 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8178 SPONSOR: MAYER TITLE OF BILL: An act in relation to requiring certain perils be covered under business interruption insurance during the coronavirus disease 2019 (COVID-19) pandemic PURPOSE OR GENERAL IDEA OF BILL: This bill is intended to hold harmless businesses who currently hold business interruption insurance, for losses sustained as a result of the current COVID-19 health emergency, but for which no such coverage is currently offered. SUMMARY OF PROVISIONS: Section 1 provides a mechanism by which certain businesses that suffer losses due to interruption as a result of the COVID-2019 pandemic may recover those losses from their insurer if they had a policy of business
2019-S8178 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8178 I N S E N A T E April 13, 2020 ___________ Introduced by Sen. MAYER -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT in relation to requiring certain perils be covered under business interruption insurance during the coronavirus disease 2019 (COVID-19) pandemic THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. (a) Notwithstanding any provisions of law, rule or regu- lation to the contrary, every policy of insurance insuring against loss or damage to property, which includes the loss of use and occupancy and business interruption, shall be construed to include among the covered perils under that policy, coverage for business interruption during a period of a declared state emergency due to the coronavirus disease 2019 (COVID-19) pandemic. (b) The coverage required by this section shall indemnify the insured, subject to the limits under the policy, for any loss of business or business interruption for the duration of a period of a declared state emergency due to the coronavirus disease 2019 (COVID-19) pandemic. (c) This section shall apply to policies issued to insureds with less than 100 eligible employees in force on the effective date of this act. "Eligible employee" means a full-time employee who works a normal work week of 25 or more hours. § 2. (a) An insurer which indemnifies an insured who has filed a claim pursuant to section one of this act may apply to the superintendent of financial services for relief and reimbursement by the department from funds collected and made available for this purpose as provided in section three of this act. (b) The superintendent of financial services shall establish proce- dures for the submission and qualification of claims by insurers which are eligible for reimbursement pursuant to this act. The superintendent of financial services shall incorporate in these procedures such stand- ards as are necessary to protect against the submission of fraudulent claims by insureds, and appropriate safeguards for insurers to employ in the review and payment of such claims. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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